China Buys 1 Million Tonnes of U.S. Soybeans Ahead of Xi’s Washington Visit
China has purchased roughly 1 million metric tonnes of U.S. soybeans, or 14–15 cargoes, according to traders cited by Reuters. State stockpiler Sinograin arranged the purchases ahead of Chinese President Xi Jinping’s planned visit to Washington later this month.
Agricultural trade has repeatedly been a pressure point in U.S.–China relations. A large state-backed purchase ahead of high-level talks may signal an effort to stabilize commercial ties between the world's two largest economies.
Attention turns to whether Beijing makes additional agricultural purchases and whether Washington reduces the additional 10% tariff affecting Chinese imports of U.S. products. President Trump has said Xi is expected in Washington on September 24, although China has not confirmed the date.
U.S. says China committed to annual agricultural purchases
July: Trump says Xi will visit Washington on Sep 24
Sep 9: USDA reports 340,000 tonnes of soybean sales to China
Sep 10: Traders report total purchases around 1 million tonnes this week
Next: Watch for additional purchases and possible tariff negotiations.
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1. reuters.comView Original
